Al Rashid Industrial Co. reported a net profit of SAR 19.7 million in H1 2024, an increase of 86%, compared to SAR 10.6 million in the year-earlier period.
| Item | 6m 2023 | 6m 2024 | Change |
|---|---|---|---|
| Revenues | 67.16 | 74.05 | 10.3 % |
| Net Income | 10.55 | 19.65 | 86.3 % |
| Average Shares | 8.00 | 8.00 | - |
| EPS (Riyals) | 1.32 | 2.46 | 86.3 % |
The company reported higher sales of existing and new production lines, an increase in production capacity, in addition to adding new varieties and products during the period. The company also increased the coverage of local markets by introducing points of sale to fulfil customer orders.
Gross profit increase by 47.05% year-on-year (YoY) due to higher revenue, lower prices of raw materials and access to new sources of raw materials.
Total shareholders’ equity, no minority interest, reached SAR 140.74 million by June 30, 2024, compared to SAR 111.59 million a year earlier.
|
Development of Interim Financials |
|||
|
Period |
Revenue ( SAR mln) |
Net Profit ( SAR mln) |
EPS (SAR/Share) |
|
H1 2022 |
55.68 |
7.83 |
0.98 |
|
H2 2022 |
60.82 |
8.72 |
1.09 |
|
H1 2023 |
67.16 |
10.55 |
1.32 |
|
H2 2023 |
67.87 |
10.77 |
1.35 |
|
H1 2024 |
74.05 |
19.65 |
2.46 |
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